19 October 2017
Find out more

Nationwide to Erase money laundering

16 January 2003  |  5146 views  |  0 Nationwide to Erase money laundering

The UK's Nationwide Building Society has implemented NetEconomy's Erase enterprise risk monitoring software to detect money laundering activity across its banking and saving accounts.

Using an integrated risk database, the Erase application detects and profiles financial patterns for each customer to identify suspicious transactions.

Russell Johnston, head of legal compliance (consumer affairs) and deputy group money laundering reporting officer, Nationwide, says: "Erase covers our branch network, as well as 'non-face-to-face' transactions, via our Internet bank and postal savings channels."

Netherlands-based NetEconomy says Erase utilises the Microsoft toolkit so is a good fit for the society's technical server-based architecture, enabling interfaces to be built easily.

Nationwide says it will also deploy the NetEconomy system to cover its treasury department and other products including loans, mortgages, credit cards and unit trusts.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Nationwide signs with 1E for systems management server solution

Nationwide signs with 1E for systems management server solution

15 January 2003  |  2742 views  |  0 comments
Nationwide contracts with Fibernet for data protection

Nationwide contracts with Fibernet for data protection

10 January 2003  |  2655 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.niceactimize.com

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15855 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8977 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8088 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7165 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6303 views comments | 6 tweets | 3 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job